How to Build a Cognitive Enterprise?

By CIOReview | Tuesday, June 30, 2020

The world has reached the tipping points in history, where the impact of technology on business is substantial enough to transform the way that business is carried out.

Fremont, CA: The introduction of new exponential technologies like artificial intelligence (AI), IoT, automation, blockchain, and 5Ghas bestowed power to the businesses to change their business models, reinvent processes, and re-imagine the way businesses function. This phenomenon is termed as the emergence of Cognitive Enterprise. Here are some of the vital building blocks that are needed for the success of Cognitive Enterprise.

Intelligent Workflows

They are the extended end-to-end or a front-to-back process that, via the application of technology at a significant scale, defines the customer experience and economic outcomes at the heart of the new business platforms. It is imperative to identify the essential workflows and related value pools in front-, middle-, and back-office areas that will be the point of differentiation between the company and industry.

Market Making Business Platforms

It is crucial to get the market-making business platform right, as it is the most fundamental component. The platform is called market-making because they need to be focused, impactful, and critical, whether they reinforce competitive position within an industry, shape a new role in an industry context, or open up cross-industry market opportunities.

There are occasions when an internal enabling business platform can be strategic enough to set the agenda. Therefore the choice of platform, focus, and degree of doubling down on investments that the enterprise makes is defining its core intent and narrative for the future.

Enterprise Experience and Humanity

Enterprise experience and humanity is an essential component of Cognitive Enterprise. In the end, for all the technology centricity of this new world, it is human power that envelopes and leverages this technology to be the core of lasting differentiation.

The concept of experience has started to extend form the customer to the employees who serve the customers, the enterprise itself, and the entire ecosystem to provide a seamless environment of value and purpose. Thus, human-centric designs turn out to be a more critical aspect of the business platforms and workflows, as well as the systems that underpin them.

Check out: Top Cognitive Technology Companies